California Public Employees Retirement System Sells 4,158 Shares of Universal Display Co. (NASDAQ:OLED)

California Public Employees Retirement System decreased its position in shares of Universal Display Co. (NASDAQ:OLED) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,380 shares of the semiconductor company’s stock after selling 4,158 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Universal Display worth $13,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Universal Display during the fourth quarter worth $95,924,000. Raymond James Financial Inc. bought a new position in shares of Universal Display in the 4th quarter worth about $41,504,000. Jennison Associates LLC lifted its stake in shares of Universal Display by 58.2% in the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after purchasing an additional 251,557 shares during the period. Barclays PLC boosted its position in shares of Universal Display by 753.8% during the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Universal Display by 95.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 189,603 shares of the semiconductor company’s stock worth $27,720,000 after purchasing an additional 92,410 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Down 3.5 %

Shares of OLED stock opened at $113.42 on Friday. Universal Display Co. has a 52 week low of $109.66 and a 52 week high of $237.00. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.61 and a beta of 1.40. The stock has a fifty day moving average of $147.52 and a 200 day moving average of $165.44.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. Equities research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio is 38.71%.

Analysts Set New Price Targets

OLED has been the subject of a number of research reports. StockNews.com upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, March 21st. The Goldman Sachs Group lowered their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Oppenheimer decreased their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. Needham & Company LLC reduced their price objective on Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Citigroup lowered their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.43.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.